Brief: Innovate Biopharmaceuticals Announces $8.7 Million Registered Direct Offering Priced At-The-Market

9 Meters Biopharma

29/04/2019 18:20

Innovate Biopharmaceuticals Inc  INNT.O :
    * INNOVATE BIOPHARMACEUTICALS ANNOUNCES $8.7 MILLION
REGISTERED
DIRECT OFFERING PRICED AT-THE-MARKET
    * INNOVATE BIOPHARMACEUTICALS INC - INTENDS TO USE PROCEEDS
FOR
PHASE 3 REGISTRATION TRIALS OF ITS LEAD PROGRAM, INN-202, OTHERS
    * INNOVATE BIOPHARMACEUTICALS INC - SALE OF 4.3 MILLION
SHARES OF
COMMON STOCK AT A PURCHASE PRICE OF $2.025 PER SHARE
    * INNOVATE BIOPHARMA - WILL ALSO ISSUE UNREGISTERED WARRANTS
TO
PURCHASE UP TO 4.3 MILLION SHARES OF COMMON STOCK WITH AN
EXERCISE PRICE OF $2.13 PER SHARE.
    * INNOVATE BIOPHARMA - WARRANTS WILL BE EXERCISABLE
IMMEDIATELY
FOLLOWING ISSUANCE AND WILL EXPIRE FIVE AND ONE-HALF YEARS FROM
DATE OF ISSUANCE

Source text for Eikon:  ID:nGNXc4G92v 
Further company coverage:  INNT.O